I'm not sure of Mandela's details. I understand he finishes his Presidency in May, prior to the general election.
Mbeki has published a list of his cronies who are to gain ministerial positions, in May, after his appointment as President. The list includes Mr and Mrs Zuma (the controversial Minister of Health), Winnie Mandela, Sam Shilowa (Head of Cosatu) and Jeremy Cronin (Head of the Communist Party). Being a graduate of an English University, I think Mbeki is something of an Anglophile which is probably not a bad thing. He has also aleinated many ANC big noises. I'm not mad about him. I doubt he has the charysma or the clout necessary to hold a barbarous country, like SAf, together. But the opposition parties are very weak and, in all probability, ANC will gain 2/3rds majority. Today, he was busy with Al Gore which, I suppose, is an improvement on Gadaffi! I get the feeling SAf and US are strengthening ties --- which is comforting to me.
Meanwhile yesterday, Trevor Manuel, Minister of Finance, published, IMO, a good budget which included, surprisingly, the lowering of corporate tax, including gold mines, to 30% (from 35%). Of course, this benefits only those gold mines which have taxable income, and pay dividends, so AngloGold should be the biggest beneficiary.
As of now, all I know is that GoldFields will buy AngloGold's shares in Driefontein. Driefontein always was a GoldFields mine so, in that regard, there's really no change in management. In due course, we'll see more details. Whatever has been decided, I know Anglo will not lose --- any and every deal in the gold mining industry, in SAf, has to benefit Anglo!
PS. Drie -- fontein. Afrikaans for three fountains. drIE not EI.
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